Malaysia's Perwaja Holdings hopeful for eventual turnaround

Beleaguered Malaysian steelmaker Perwaja Holdings is still holding out hope for an eventual turnaround and to be transformed into an integrated upstream steel producer despite its financial woes.

The company is focused on restarting its plant operations and continue with the construction of its concentration and pelletizing plants (C&P plants), which have been held in abeyance given the company’s financial predicament, according to its latest annual report filed to Bursa Malaysia, the country’s stock exchange, late on Friday November 28. “On completion of the C&P plants, we will be transformed into an integrated upstream steel player. The C&P plants will be first of its kind in Malaysia as well as in Southeast Asia, and forms part of the group’s effort to contain price volatility of imported raw materials,” its group executive chairman Ong Tee Thong said...


Weilyn Loo

December 01, 2014

06:16 GMT